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November 22, 2014

Homework Help: accounting

Posted by Krystal on Wednesday, November 18, 2009 at 9:43am.

Common stock $1.50 par, 1800 million shares issued.....................$2700
Capital in excess of par..........$8100
Retained Earnings.................$1200
Treasury stock....................$0
Total S. Equity.................$12,000

If million shares of common stock are issued for $12.50 per share, 1 million shares of treasury stock are purchased for $14 million and $30 million cash dividends are declared and paid, update the above stockholders equity section.

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